J&J Posts Profit Jumps 29 Percent on One Time Gain

The world's biggest maker of health care products is on the mend, with a slight increase in sales and profit after the recession dragged results down last year.

Johnson & Johnson says its first-quarter profit is up 29 percent, to $4.53 billion, but that's mainly due to a one-time gain from litigation. That profit represents earnings of $1.62 per share, or $1.29 excluding the gain.

The New Brunswick, N.J.-based maker of biologic drugs, Band-Aids and baby shampoo says sales were up 4 percent, to $15.63 billion.